Morristown
Tennessee · Ranked #174 of 373 metros
78Affordable
💡
Housing in Morristown costs 4.24× the median income, below the national average of 4.5×. The median home price is $248K and median rent is $903/month. Morristown ranks #174 of 373 metros for affordability.
Median Home Price
🏠$248K
Need $73K income
Median Rent
🔑$903
Need $36K income
Building Permits
🔨552
annual
Median Income
💰$58K
Pop: 126,272
Rent Burden
⚠️19.0%
of renters paying >30%
Homeownership
🏡74.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Morristown | National |
|---|---|---|
| Price-to-Income Ratio | 4.24x | 6.1x |
| Rent Burden | 19.0% | 31.5% |
| Homeownership Rate | 74.0% | 65.5% |
| YoY Rent Change | 0% | +2.8% |
| Mortgage Denial Rate | 0.0% | 13.5% |
| Eviction Rate | 0.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +84.8%Since 2000: +206.3%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$881/mo
1 Bedroom$887/mo
2 Bedroom$1,135/mo
3 Bedroom$1,444/mo
4 Bedroom$1,827/mo
Zillow Market Data
Home Value (ZHVI)
$291K
1yr: +1.1%5yr: +51.1%
Rent (ZORI)
$1,502/mo
1yr: +3.2%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$327K
Active Inventory
7
Days on Market
120
Sold Above List
0.0%
Price Drops
14.3%